Stock Exchange Release 31 October 2022 at 18:45 EET
Fingrid Oyj has sold its shareholding in TSO Holding AS to Litgrid Ab through a share transaction closed today, on 31 October 2022. TSO Holding owns 34 per cent of the shares in Nord Pool Holding AS that operates the power exchange in 16 European countries. The transaction will increase Litgrid Ab’s shareholding in TSO Holding to 39.6 per cent.
“Power exchange business is competitive business in Europe. As a natural monopoly, Fingrid's strategy is not to own competitive businesses. This transaction completes the process started in 2019 of withdrawing totally from power exchange ownership,” says Fingrid Oyj’s CEO Jukka Ruusunen of Fingrid Oyj’s decision to sell its shareholding in TSO Holding AS.
Litgrid Ab’s parent company, EPSO-G has previously announced its plans for the transaction on its website.
Jukka Ruusunen, President and CEO, Fingrid Oyj, tel. +358 40 593 8428